Las Vegas Sun

November 21, 2019

Currently: 53° — Complete forecast

Nevada casinos report strong winnings in August

Cromwell Opens Casino Floor

STEVE MARCUS

A gambler’s blackjack hand is shown during the opening of the casino floor at the Cromwell, formerly Bill’s Gamblin’ Hall & Saloon, on the Las Vegas Strip and Flamingo Avenue, Monday, April 21, 2014.

Updated Friday, Sept. 27, 2019 | 1:10 p.m.

Nevada casinos reported a strong month of house winnings in August, up 4.3% compared with the same month a year ago, state regulators said today.

It was the third straight monthly increase statewide in the year-to-year comparison, after five months of decreases, Nevada Gaming Control Board analyst Michael Lawton said.

However, the $952 million in casino "gaming win" was down from $1.02 billion in July.

The state took in $50 million in taxes, called percentage fees, on the August 2019 figures. That was up 6.9% from a year ago.

Key drivers in August were sports pools and table games other than baccarat, including blackjack, craps and roulette, Lawton said.

He said the $36.3 million win figure for those games was up 17.9% from a year ago, mainly due to increased volume and house hold percentages.

Slot win figures were down slightly, while baccarat win came in at $98.6 million, up 6.4% from the same month a year ago.

Las Vegas Strip properties reported an 8.9% increase in overall winnings in August. Reno casinos reported a nearly 4.7% increase. Properties in West Wendover reported a 16% jump.

The Las Vegas Strip has now also recorded three consecutive monthly increases in the year-over-year comparison, Lawton said.

The monthly report is a key index of state fiscal health. Gambling taxes in Nevada are second to sales taxes as a percentage of the state's $14 billion annual budget.